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The Latest Breaking News from Mostafa Madbouly

Sisi Follows Up on Electricity Interconnection with Saudi Arabia, Greece, Cyprus

Egyptian President Abdel Fattah al-Sisi discussed with Prime Minister Mostafa Madbouly and Minister of Electricity and Renewable Energy Mohamed Shaker the progress in electricity interconnection projects with neighboring countries, notably Saudi Arabia, Greece and Cyprus. The presidency spokesman, Ambassador Bassam Rady, said the meeting addressed the nationwide projects of the…

Asharq Al-Awsat

Tanzania’s Rufiji River: Egypt’s Response to Ethiopia’s Accusations

Egypt has completed the construction work of a massive dam body it is building on the Rufiji River in Tanzania, in a move considered as a message addressed to Ethiopia, Cairo also started preparations for retaining water to fill the reservoir of the giant Julius Nyerere Hydropower Project (JNHPP). The…

Asharq Al-Awsat

Egypt’s Sets Date for Upcoming Economic Conference

The Egyptian government announced that the upcoming economic conference, called for by President Abdel Fattah el-Sisi, would be held from October 23 to 25. Speaking on the sidelines of the inauguration of naval units in the Suez Canal earlier this month, the Egyptian president called for holding an economic conference…

Asharq Al-Awsat

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Egypt Targets $30 Bln Revenues from Tourism Sector

Egyptian Prime Minister Mostafa Madbouly has asked the private sector and investors to develop a detailed executive plan for the state to increase tourism revenues to $30 billion. Ahead of the 27th meeting of the Conference of the States Parties to the United Nations Framework Convention on Climate Change (COP27),…

Asharq Al-Awsat

Egypt to Ration Electricity to Boost Gas Exports

Egypt's cabinet has approved a plan to ration electricity to save natural gas that it will instead divert to the export market to generate foreign currency, it said on Thursday. Egypt has suffered from an acute foreign currency shortage since Russia's February invasion of Ukraine, which pushed up global commodity…

Asharq Al-Awsat

Egypt Adopts Measures to Rationalize Electricity Consumption

Egypt is seeking to increase its hard currency revenues, as a result of the rise in interest rates on the dollar. Egypt’s financing needs are increasing despite record revenues achieved from the Suez Canal Authority, which reached USD 7 billion in the last fiscal year, remittances from Egyptians abroad that…

Asharq Al-Awsat

Egypt Seeks to Strengthen Position as Sustainable Energy Hub

Egypt is seeking to become a regional hub for renewable energy, as part of its 2030 sustainable development strategy, especially in the field of green hydrogen. In April, Prime Minister Mostafa Madbouly said Cairo is accelerating steps to adopt proposals aimed at attracting more foreign investments in the field of…

Asharq Al-Awsat

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Egypt: Sisi Inaugurates Huge Transportation Projects

Egyptian President Abdel Fattah El-Sisi inaugurated Adly Mansour Central Interchange Station, the largest such station in the Middle East and Africa. The inauguration of the new projects coincided with the country's celebration of the ninth anniversary of ousting the banned Muslim Brotherhood. In 2013, Sisi, Minister of Defense at the…

Asharq Al-Awsat

Algeria, Egypt to Develop Strategic Partnership

Egyptian Prime Minister Mostafa Madbouly said on Thursday that his country is determined to “advance the level of bilateral relations with Algeria to a progressive strategic partnership,” while his Algerian counterpart Ayman Benabderrahmane affirmed that “the capabilities of the two countries, if integrated, can make miracles.” The two officials chaired…

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Egypt Celebrates Anniversary of Muslim Brotherhood Overthrow, Awaits Launch of National Dialogue

Egypt’s official authorities celebrated on Monday the 9th anniversary of the June 30 Revolution, which overthrew the rule of the Muslim Brotherhood organization. In an official greeting message addressed to President Abdel Fattah El-Sisi, Prime Minister Mostafa Madbouly said: “The June 30 revolution represents a significant day in the life…

Asharq Al-Awsat

Egypt to Delay Electricity Price Hike by Six Months

Egypt's government will postpone a decision whether to increase electricity prices by six months starting in July, Prime Minister Mostafa Madbouly said on Wednesday. Egypt has experienced increasing price pressures in recent months and devalued its currency by 14% in March after facing economic headwinds from the war in Ukraine.…

Asharq Al-Awsat

Egypt to Manufacture 75,000 Vehicles Annually in SCZone

Egypt unveiled Tuesday a national strategy for the automotive industry in the country. Prime Minister Mostafa Madbouly announced the National Strategy for the Development of the Automotive Industry, which was launched from East of Port Said in the Suez Canal Economic Zone (SCZone). Madbouly also witnessed the signing of a…

Asharq Al-Awsat

UAE, Egypt, Jordan Sign Industrial Partnership in 5 Sectors for Sustainable Economic Growth

The United Arab Emirates, Egypt and Jordan announced on Sunday an integrated Industrial Partnership for Sustainable Economic Growth in Abu Dhabi. The partnership agreement aims to unlock new industrial opportunities and enhance sustainable economic growth in the three countries, across five promising industrial sectors, namely food and agriculture, fertilizers, pharmaceuticals,…

Asharq Al-Awsat

Egypt Affirms Importance of Strategic Ties With the US

Egypt’s Prime Minister Mostafa Madbouly affirmed on Monday the keenness to strengthen strategic ties in various fields with the United States, noting that the US is considered one of the most important trading partners for Egypt. The PM’s comments came during a meeting organized by the American Chamber of Commerce…

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Asharq Al-Awsat

Egypt to Confront Global Economic Crisis with Ambitious Financial Goals

Cairo announced on Sunday a number of ambitious financial goals, in wake of successive global economic crises, the latest of which are the repercussions of the war on Ukraine that impacted most of Egypt’s economic sectors. Prime Minister Mostafa Madbouly said he wanted private investment to rise to 65% of…

Asharq Al-Awsat

Egypt, Tunisia Agree to Coordinate over Int'l Affairs

Egypt and Tunisia agreed to coordinate and hold consultations over regional and international developments. Speaking at the conclusion of the meetings of the 17th session of the Egyptian-Tunisian Joint High Committee on Friday, Egyptian Prime Minister Mostafa Madbouly and Tunisian Prime Minister Najlaa Boudentwo stressed the need to boost coordination…

Asharq Al-Awsat

Tunis, Cairo Seek Doubling Trade Exchange

The Tunisian-Egyptian Economic Forum kicked off on Thursday at the headquarters of the Export Promotion Center in the Tunisian capital. Tunis and Cairo expressed common desire to value the major available capabilities and opportunities to increase the volume of trade exchange, diversify its base and develop the partnership to live…

Asharq Al-Awsat

Egyptian PM in Tunisia to Kick Off Joint Higher Committee Meetings

Egyptian Prime Minister Mostafa Madbouly's visit to Tunisia received wide media coverage in both countries due to the anticipated economic results it is set to produce and the coordination of political positions over several regional issues, especially stability in neighboring Libya. Upon his arrival, Madbouly was welcome at the airport…

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Asharq Al-Awsat

Egypt’s Shoukry, EU Commission’s Timmermans Hold Talks in Preparation for COP27 Summit

Egypt’s Foreign Minister Sameh Shoukry held talks with the Executive Vice-President of the European Commission responsible for the European Green Deal and Climate Change Negotiations, Frans Timmermans, in Cairo on Sunday. According to a Foreign Ministry statement, Cairo is keen to consult with all parties concerned with international climate action.…

Asharq Al-Awsat

Egypt Government to Set 'Fair' Prices to Confront Market Manipulation

The Egyptian government announced on Monday it intends to “publish a list of fair prices for basic commodities,” in order to prevent the manipulation of prices by merchants. The announcement comes less than two weeks after it decided to temporarily set a fixed price for unsubsidized bread. During a meeting…

Asharq Al-Awsat

Egypt Inks Deal to Further Accelerate Supply of Green Fuels

Egypt signed on Monday a Memorandum of Understanding (MoU) with Maersk in a joint bid to further accelerate the supply of green fuels for ships as part of the shipping industry’s transition to net-zero. Egyptian Prime Minister Mostafa Madbouly witnessed the signing of the deal with the General Authority for…

Asharq Al-Awsat

Egypt Says Cooperation with African Partners a ‘Top Priority’

The Egyptian government views cooperation with African nations as a “top priority,” said Prime Minister Mostafa Madbouly, whose country concluded training workshops for 32 envoys from 11 African states, in addition to India, Armenia and Sri Lanka, in partnership with the World Food Program (WFP) through the Luxor Coordination Center…

Asharq Al-Awsat

PM: Egypt to Ensure Poor Are Protected when Bread Price Rises

Egypt will move to increase the price of subsidized bread but aims to do so without harming poor Egyptians, Prime Minister Mostafa Madbouly said on Wednesday. “I confirm that [the rise] will be applied but in a way through which we ensure that the neediest people are not harmed,” Madbouly…

Asharq Al-Awsat

Egypt to Expand Water Desalination Projects Amid Ongoing Dispute Over Renaissance Dam

The Egyptian government plans to expand its seawater desalination plants in the coastal areas and governorates overlooking the Red and Mediterranean Seas, the Gulfs of Suez and Aqaba, Prime Minister Mostafa Madbouly announced Monday. The government’s efforts come in light of a national plan to address limited water resources, a…

Asharq Al-Awsat

Egypt to Boost Suez Canal Economic Zone as it Hosts COP27

The Egyptian government is seeking to reinforce the role of the Suez Canal Economic Zone (SCZone) as Egypt hosts the United Nations Climate Conference (COP27) in Sharm El-Sheikh in November. Prime Minister Mostafa Madbouly met Monday with Yehia Zaki, the Chairperson of SCZone, to review global offers for green hydrogen…

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